Question

Decision making can be viewed as an eight-step process, use these steps in making any decision. Please use your own example and do not take the examples from the PowerPoint presentation (buying a car or a computer)

Answer 1

The 8 steps are as follows:

Identification of the decision: The decision could be arrived at by looking at the problems arising because of the lack of the product presence such as a sewing machine.

Information gathering: Looking at how it will benefit me and reduce the workload and make the clothes fitting perfect. How the alternatives are priced.

Principles for judging the alternatives: Whether it is providing value for the money and how efficient the product is.

Brainstorm and analyse the different choices: The prices of other alternatives and what features are unique and reduce the electricity cost and thread usage.

Evaluation of alternatives: Putting all the characteristics and assessing the availability and color, size of all the alternatives.

Select the best alternative: In terms of usage and price value, which sewing machine is the cheapest with greater value.

Execute the decision: Select the payment mode, in terms of cash or credit

Evaluate the results: Assess the sewing machine product and how resourceful the decision making process was for future decision making.